The impact of digital transformation on the formulation of new corporate strategic directions

The digital economy, as an economy primarily functioning via digital technologies, has made its impact on the development of the digital transformation concept. Such a form of business transformation requires the integration of digital technologies in all industries. The paper underlines the importa...

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Autor principal:	Kahrović Ernad
Formato:	article
Lenguaje:	SR
Publicado:	State University of Novi Pazar, Novi Pazar 2021
Materias:	digital business digital economy digital technologies corporate strategies Social sciences (General) H1-99
Acceso en línea:	https://doaj.org/article/0c23c777e9b440588e26449b4a51d0d8
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spelling	oai:doaj.org-article:0c23c777e9b440588e26449b4a51d0d82021-12-05T21:27:10ZThe impact of digital transformation on the formulation of new corporate strategic directions2619-998X2620-007410.5937/NPDUNP2102141Khttps://doaj.org/article/0c23c777e9b440588e26449b4a51d0d82021-01-01T00:00:00Zhttps://scindeks-clanci.ceon.rs/data/pdf/2619-998X/2021/2619-998X2102141K.pdfhttps://doaj.org/toc/2619-998Xhttps://doaj.org/toc/2620-0074The digital economy, as an economy primarily functioning via digital technologies, has made its impact on the development of the digital transformation concept. Such a form of business transformation requires the integration of digital technologies in all industries. The paper underlines the importance of the essential elements of transformation, regarding customer experience, operational processes, business models, employee experience and digital platform, along with the key business spheres, relating to competition, innovation and value, which digitalisation changes on the way. The main goal of the paper therefore is to point to the impact of digital transformation on the process of formulating new corporate strategic directions. With this in mind, the main aim of the paper is to stress prospective corporate strategic directions of digital transformation under conditions of deep digital penetration. The paper is based on the working hypothesis that despite the fact that existing businesses most commonly start with market penetration, through developing a digital technology strategy, as well as digital market expansion strategy, further development of digital transformation leads to the creation of digital platforms that are built by mutual collaboration of numerous stakeholders connected through joint value creation and its delivery.Kahrović ErnadState University of Novi Pazar, Novi Pazararticledigital businessdigital economydigital technologiescorporate strategiesSocial sciences (General)H1-99SR Naučne publikacije Državnog univerziteta u Novom Pazaru, Vol 4, Iss 2, Pp 141-153 (2021)
institution	DOAJ
collection	DOAJ
language	SR
topic	digital business digital economy digital technologies corporate strategies Social sciences (General) H1-99
spellingShingle	digital business digital economy digital technologies corporate strategies Social sciences (General) H1-99 Kahrović Ernad The impact of digital transformation on the formulation of new corporate strategic directions
description	The digital economy, as an economy primarily functioning via digital technologies, has made its impact on the development of the digital transformation concept. Such a form of business transformation requires the integration of digital technologies in all industries. The paper underlines the importance of the essential elements of transformation, regarding customer experience, operational processes, business models, employee experience and digital platform, along with the key business spheres, relating to competition, innovation and value, which digitalisation changes on the way. The main goal of the paper therefore is to point to the impact of digital transformation on the process of formulating new corporate strategic directions. With this in mind, the main aim of the paper is to stress prospective corporate strategic directions of digital transformation under conditions of deep digital penetration. The paper is based on the working hypothesis that despite the fact that existing businesses most commonly start with market penetration, through developing a digital technology strategy, as well as digital market expansion strategy, further development of digital transformation leads to the creation of digital platforms that are built by mutual collaboration of numerous stakeholders connected through joint value creation and its delivery.
format	article
author	Kahrović Ernad
author_facet	Kahrović Ernad
author_sort	Kahrović Ernad
title	The impact of digital transformation on the formulation of new corporate strategic directions
title_short	The impact of digital transformation on the formulation of new corporate strategic directions
title_full	The impact of digital transformation on the formulation of new corporate strategic directions
title_fullStr	The impact of digital transformation on the formulation of new corporate strategic directions
title_full_unstemmed	The impact of digital transformation on the formulation of new corporate strategic directions
title_sort	impact of digital transformation on the formulation of new corporate strategic directions
publisher	State University of Novi Pazar, Novi Pazar
publishDate	2021
url	https://doaj.org/article/0c23c777e9b440588e26449b4a51d0d8
work_keys_str_mv	AT kahrovicernad theimpactofdigitaltransformationontheformulationofnewcorporatestrategicdirections AT kahrovicernad impactofdigitaltransformationontheformulationofnewcorporatestrategicdirections
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The impact of digital transformation on the formulation of new corporate strategic directions

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